Key Points of Atul Auto Equity Shares Allocation:
- Atul Auto issued and allotted 19,36,027 equity shares of face value Rs. 5 each fully paid-up.
- The shares were issued at an issue price of Rs. 198 each, including a premium of Rs. 193 per share, totaling Rs. 38,33,33,346.
- The allotment was made at the Securities Allotment Committee of Board of Directors meeting on March 15, 2023.
- The allottees included Vijay Kishanlal Kedia (Non-promoter), Khushbu Auto Private Limited (Promoter), and Jayantibhai Jagjivanbhai Chandra (Promoter).
- 19,36,027 convertible warrants out of the total 58,08,080 warrants held by warrant holders were exercised, resulting in the allotment of equity shares.
- The allotment was made in accordance with the receipt of warrant exercise price of Rs. 148.50 per warrant, totaling Rs. 28,75,00,009.50.
- The equity shares arising from the conversion of warrants shall rank pari passu in all respects with the existing equity shares.
- The allotment was made for cash, and this move is expected to bring in more investors and boost the company’s growth prospects.
Details of Atul Auto Equity Shares Allocation:
Atul Auto Issues 19,36,027 Equity Shares to Allottees
Atul Auto Securities Allotment Committee of Board of Directors has recently issued and allotted 19,36,027 equity shares of face value Rs. 5 each fully paid-up. The shares were issued at an issue price of Rs. 198 each, which included a premium of Rs. 193 per share, amounting to a total of Rs. 38,33,33,346. The allotment was made at the committee’s meeting held on March 15, 2023.
The allottees included Vijay Kishanlal Kedia (Non-promoter), Khushbu Auto Private Limited (Promoter), and Jayantibhai Jagjivanbhai Chandra (Promoter). Out of the total 58,08,080 warrants held by warrant holders, 19,36,027 convertible warrants were exercised, resulting in the allotment of the equity shares. The allotment was made in accordance with the receipt of warrant exercise price of Rs. 148.50 per warrant, aggregating to Rs. 28,75,00,009.50.
- Vijay Kishanlal Kedia (Non-promoter) was allotted 16,83,502 shares upon conversion of 50,50,505 warrants held.
- Khushbu Auto Private Limited (Promoter) was allotted 2,18,855 shares upon conversion of 6,56,565 warrants held.
- Jayantibhai Jagjivanbhai Chandra (Promoter) was allotted 33,670 shares upon conversion of 1,01,010 warrants held.
The equity shares arising from the conversion of warrants shall rank pari passu in all respects with the existing equity shares. The allotment was made for cash.
This move by Atul Auto Limited is expected to bring in more investors and boost the company’s growth prospects.
About Atul Auto:
Atul Auto is revolutionizing the three-wheeler industry with its innovative vehicles. With a presence across 21 states and a network of 200 primary and 130 secondary dealerships, Atul is one of the fastest-growing three-wheeler companies in India. Since its inception in the 1970s, Atul has sold over a million vehicles that are currently operational on roads worldwide.
For More Latest News Click Here
